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BlackRock ETFs Get Billions Via Trades Hinting at Tax Avoidance

  • ‘Heartbeat’ trades may be taking place linked to index changes
  • Big inflows are showing up in funds with previous heartbeats

Five BlackRock Inc. funds just recorded massive inflows that carry all the hallmarks of tax-ducking ETF trades known as heartbeats.

The exchange-traded products collectively lured about $13.5 billion on Wednesday amid the rebalancing of the FTSE Russell indexes, compared with a $37 million inflow for all five funds last week.